News Archives for Business & Finance - 2024-11-21

Business & Finance - 2024-11-21

Stocks

Sri Lanka shares end lower as real estate, industrials drag

CSE All-Share index settled 1% lower at 12,982.10

Published 21 Nov, 2024 04:57pm

Commodities

Copper slips on uncertainties over China, Ukraine, Trump

LONDON: Copper prices retreated on Thursday on concerns about the latest developments in the war in Ukraine, a...

Published 21 Nov, 2024 04:54pm

Commodities

Palm extends losses amid China tariff fears, weak demand

KUALA LUMPUR: Malaysian palm oil futures closed lower for a second consecutive session on Thursday, as fears of U.S....

Published 21 Nov, 2024 04:51pm

Commodities

Gold price per tola increases Rs3,700 in Pakistan

Gold prices in Pakistan rose on Thursday in line with their increase in the international rates. In the local...

Published 21 Nov, 2024 03:35pm

Forex

Russian rouble strengthens slightly vs US dollar

MOSCOW: The Russian rouble strengthened slightly against the US dollar on Thursday but remained above the 100 mark,...

Published 21 Nov, 2024 02:46pm

Companies

Thatta Cement rejects ‘abrupt shutdown’ claims, says plant remains fully operational

Thatta Cement Company Limited (THCCL) categorically rejected claims made by a competitor alleging an abrupt shutdown...

Published 21 Nov, 2024 02:36pm

Stocks

European shares edge lower, tech stocks drag after Nvidia’s disappointing forecast

Europe’s main stock index slipped on Thursday, as market sentiment was tepid with geopolitical tensions boosting...

Published 21 Nov, 2024 02:03pm

Stocks

Most Gulf shares fall as geopolitical concerns mount

Most stock markets in the Gulf were muted in early trading on Thursday as investors turned cautious as geopolitical...

Published 21 Nov, 2024 02:02pm

South Asia

Sri Lanka expects IMF staff level agreement on Friday to release further bailout funds

COLOMBO: Sri Lanka expects the IMF to announce a staff level agreement on its third review of the country’s bailout...

Published 21 Nov, 2024 01:15pm

Forex

Kenyan shilling steady as export dollar inflows match rising demand

NAIROBI: The Kenyan shilling was steady on Thursday as dollar inflows from exports matched rising demand from the...

Published 21 Nov, 2024 01:11pm

Mutual Funds

JGB yields jump as rate hike bets rise after BOJ chief comments

TOKYO: Japanese government bond yields jumped on Thursday as comments from the Bank of Japan chief raised bets of an...

Published 21 Nov, 2024 01:09pm

Mutual Funds

Euro zone bond yields climb before PMI data, geopolitics in focus

Euro zone government bond yields edged up as market participants assessed heightened tensions between Russia and the...

Published 21 Nov, 2024 01:07pm

Starbucks weighs strategic partnerships for China operations

Starbucks reiterated on Thursday it is exploring strategic partnerships for its Chinese operations, after a media...

Published 21 Nov, 2024 01:05pm

Forex

South African rand slips ahead of interest rate decision

JOHANNESBURG: South Africa’s rand slipped on Thursday ahead of an interest rate decision by the central bank. At...

Published 21 Nov, 2024 01:02pm

Stocks

New record: KSE-100 crosses 97,000 mark as investors dismiss political noise

Fertiliser sector leads the buying rally

Updated 21 Nov, 2024 04:06pm

Stocks

South Korea stocks edge higher as chip makers gain after Nvidia earnings

KOSPI was up 3.60 points, or 0.15%, at 2,485.89

Published 21 Nov, 2024 12:33pm

Commodities

Wheat climbs as Ukraine missile attacks spark fears of export disruption

CANBERRA: Chicago wheat rose on Thursday for a fifth consecutive session as Ukrainian long-range missile attacks on...

Published 21 Nov, 2024 12:27pm

Honda hopes to double EV driving range with solid-state batteries, R&D chief says

TOCHIGI: Honda Motor aims to double the driving range of its electric cars by the late 2020s when they start to...

Published 21 Nov, 2024 12:21pm

Indonesia’s Q3 current account deficit narrows to 0.6% of GDP

JAKARTA: Indonesia’s current account deficit narrowed to 0.6% of gross domestic product (GDP), or $2.2 billion, in...

Published 21 Nov, 2024 12:12pm

Commodities

Iron ore at over one-week high as traders weigh resilient demand against high portside stocks

BEIJING: Iron ore futures prices climbed to a more-than-one-week high on Thursday as investors and traders weighed...

Published 21 Nov, 2024 12:09pm

Forex

China’s yuan consolidates near 3-1/2-month low as investors await Trump policy clues

SHANGHAI: China’s yuan consolidated near a 3-1/2-month low against the dollar on Thursday, as investors waited for...

Published 21 Nov, 2024 11:47am

Stocks

China, Hong Kong stocks dip as market weighs US tariff concerns, stimulus hopes

HONG KONG: China and Hong Kong stocks edged lower on Thursday as investors weighed the potential impact of US tariff...

Published 21 Nov, 2024 11:44am

India’s Adani Group sees $30bn in value wiped off after US indictments

Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US...

Published 21 Nov, 2024 11:35am

Commodities

Palm tumbles amid China tariff fears, weak demand

KUALA LUMPUR: Malaysian palm oil futures tumbled on Thursday, as fears of US tariffs imposed on China and muted...

Published 21 Nov, 2024 11:30am

BOJ Ueda says will ‘seriously’ take into account FX impact on economy, prices

TOKYO: Bank of Japan Governor Kazuo Ueda said on Thursday the central bank will “seriously” take into account...

Published 21 Nov, 2024 11:28am

Novartis raises annual sales guidance until 2028

FRANKFURT: Novartis on Thursday raised its medium-term sales guidance, predicting 6% annual growth through 2028,...

Published 21 Nov, 2024 11:21am

Commodities

Jordan tenders to buy up to 120,000 metric tons feed barley, traders say

HAMBURG: Jordan’s state grains buyer has issued an international tender to purchase up to 120,000 metric tons of...

Published 21 Nov, 2024 11:19am

Bullion Rate

Gold gains for fourth day as geopolitical tensions escalate

Gold prices rose for a fourth straight session on Thursday, driven by safe-haven demand amid escalating tensions in...

Published 21 Nov, 2024 11:17am

ECB policymaker says Trump tariff hikes won’t shift Europe’s inflation outlook

TOKYO: Tariff hikes under the new Trump administration do not shift the inflation outlook in Europe, ECB policymaker...

Published 21 Nov, 2024 10:55am

Currency

Bitcoin breaks $96,000 for first time on optimism over Trump crypto plans

SINGAPORE: Bitcoin’s march toward $100,000 made further ground on Thursday as investors bet a friendlier US...

Updated 21 Nov, 2024 12:00pm

Stocks

Asian stocks ease as Nvidia’s forecast dampens risk appetite

SINGAPORE: Asian equities fell on Thursday after AI darling Nvidia disappointed investors with a subdued revenue...

Published 21 Nov, 2024 10:49am

Hyundai unveils big electric SUV in fast-growing market

SAN FRANCISCO: Hyundai Motor unveiled its first three-row electric SUV on Wednesday, pushing into a market for big...

Published 21 Nov, 2024 10:41am

Exchange

Intra-day update: rupee strengthens against US dollar

Currency hovers at 277-278 level in inter-bank market

Published 21 Nov, 2024 10:38am

Forex

Australia, NZ dollars come unstuck, doves wager on big kiwi rate cuts

SYDNEY: The Australian and New Zealand dollars were on the back foot again on Thursday as a fledgling rally was...

Published 21 Nov, 2024 10:36am

Stocks

Japanese shares fall as tech stocks track Nasdaq lower

TOKYO: Japanese shares fell on Thursday as technology stocks tracked the Nasdaq’s overnight decline, while financial...

Published 21 Nov, 2024 10:30am

Forex

Indian rupee hits record low hurt by weak local equities, buoyant dollar

MUMBAI: The Indian rupee weakened to its all-time low on Thursday, pressured by likely foreign outflows from local...

Published 21 Nov, 2024 10:26am

Mutual Funds

India bond yields inch up ahead of debt sale on Friday

MUMBAI: Indian government bond yields trended marginally higher in early deals on Thursday as US yields stayed...

Published 21 Nov, 2024 10:23am

Stocks

Indian shares set for muted start; Adani stocks in focus

Indian shares are likely to have a subdued start on Thursday, with attention on Adani Group following the indictment...

Published 21 Nov, 2024 10:21am

Forex

Dollar pulls ahead as markets focus on Trump policies, Fed outlook

TOKYO: The US dollar stood broadly firm on Thursday as traders awaited more clarity on US President-elect Donald...

Published 21 Nov, 2024 10:07am

Energy

Oil prices climb as geopolitical tensions outweigh US inventories

SINGAPORE: Oil prices climbed on Thursday as geopolitical concerns over escalating tensions between Russia and...

Updated 21 Nov, 2024 02:08pm

Industry

Delegation of TikTok meets minister

ISLAMABAD: Delegation of TikTok led by its Director of Public Policy Emir Gelen, called on Minister of State for IT...

Published 21 Nov, 2024 08:21am

Companies

NBP partners with 1LINK, Mastercard on co-badged debit card issuance

KARACHI: National Bank of Pakistan (NBP), one of the largest issuers of debit cards in the country, has become the...

Published 21 Nov, 2024 08:19am

Industry

KS&EWL to deliver 1st container ship to PNSC next year

KARACHI: Karachi Shipyard & Engineering Works Limited (KS&EWL) is set to deliver its first container ship to...

Published 21 Nov, 2024 08:10am

Sharjeel speaks about criticality of young talent to drive economic growth

HYDERABAD: Sindh Senior Minister for Information and Transport Sharjeel Inam Memon has emphasised the importance of...

Published 21 Nov, 2024 07:50am

CPEC: 38 projects worth $25bn already completed

ISLAMABAD: A total of 38 projects worth over $25 billion have been completed and 23 development projects at cost of...

Published 21 Nov, 2024 07:49am

Industry

HIT converts HAVAL H6 into modern security vehicle

KARACHI: Heavy Industries Taxila (HIT) has transformed the Chinese-manufactured HAVAL H6 into a sophisticated...

Published 21 Nov, 2024 07:48am

Industry

Six manufacturers to participate in Automechanika Dubai

KARACHI: Six Pakistani exhibitors will present the latest innovations in the auto industry at the renowned...

Published 21 Nov, 2024 07:46am

Rs368bn raised through auction for PIBs

KARACHI: In the fixed bond PIBs auction on Wednesday, the government raised Rs 368 billion against the target of Rs...

Published 21 Nov, 2024 07:30am

Taxes

FBR gives legal cover to PM approved rewards to IR officials

ISLAMABAD: The Federal Board of Revenue (FBR) will give cash rewards to the Inland Revenue officials as directed by...

Published 21 Nov, 2024 07:17am

Taxes

LTOs, MTOs & RTOs to work on 23rd, 30th

ISLAMABAD: The Federal Board of Revenue (FBR) has announced that all Large Taxpayer Offices (LTOs), Medium Taxpayer...

Published 21 Nov, 2024 07:15am

Relocation of industry: Minister for enhancing G2G collaboration with China

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal stressed the urgency of...

Published 21 Nov, 2024 07:14am

Industry

PCSIR informs NA Committee: Pakistan develops 36 cannabis-based products

ISLAMABAD: The National Assembly Standing Committee on Science and Technology was informed on Wednesday that ...

Published 21 Nov, 2024 07:10am

Industry

Jam reviews progress on Wexnet, OIC Trade Fair preparations

KARACHI: The Minister of Commerce on Wednesday visited the National Insurance Corporation Limited (NICL) to preside...

Published 21 Nov, 2024 07:02am

SBP issues EMI license to EPSL

KARACHI: The State Bank of Pakistan (SBP) has given License to M/s E-Processing Systems Private Limited (EPSPL) to...